Chelsea striker Fernando Torres is set to end his miserable spell at Stamford Bridge by joining AC Milan on loan for the next two seasons.

Torres has endured a difficult time with the Blues since his then-British record £50 million (63m euros, $82.9m) move from Liverpool in January 2011.

The 30-year-old Spain international was unable to repeat his prolific Liverpool form in west London and has scored just 45 goals in 172 appearances in all competitions for Chelsea.

He was believed to be Blues boss Jose Mourinho's third-choice striker behind new signings Diego Costa and Didier Drogba this season, and that drop down the pecking order has persuaded him to consider Milan's offer.

"Chelsea Football Club and AC Milan have agreed terms for the two-year loan deal of Fernando Torres to the Italian club," a statement on Chelsea's website announced.

"The move is now subject to Fernando agreeing personal terms with AC Milan and passing a medical examination."

Milan made their move for former Atletico Madrid star Torres after selling Mario Balotelli to Liverpool earlier this week.

Assuming Torres completes the move, he will surely go down as one of the biggest flops in Premier League history, given the size of both his reputation and the transfer and wages required to lure him from Anfield.

Only the likes of Andy Carroll, a £35 million failure at Liverpool, and Andriy Shevchenko, a £30 million misfit at Chelsea, have fared as badly as Torres in the Premier League era.

Torres has two years remaining on his £150,000-a-week Chelsea contract, meaning he is unlikely to play for the Blues again because he would be a free agent by the time his spell at the San Siro is over.

His move to Italy will bring the curtain down on a disastrous stint with Chelsea, in which he was a bit-part player as the club won the Champions League, the Europa League and the FA Cup.

Torres was a shadow of the player who terrorised defences across Europe in a Liverpool shirt and the raw statistics tell the full story of his Chelsea nightmare.

He averaged one goal every 3.8 matches for the Blues, compared to one every 1.8 matches in his four years with Liverpool, while each goal effectively cost Chelsea £1.1 million.